AudioEye (NASDAQ:AEYE) Coverage Initiated by Analysts at Needham & Company LLC

Needham & Company LLC assumed coverage on shares of AudioEye (NASDAQ:AEYE) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued a buy rating and a $25.00 target price on the stock.

Several other analysts have also issued reports on the company. Roth Mkm reaffirmed a “buy” rating and issued a $35.00 target price (up previously from $25.00) on shares of AudioEye in a research note on Friday, November 8th. HC Wainwright upped their target price on AudioEye from $28.00 to $37.00 and gave the company a “buy” rating in a report on Monday, November 11th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $29.10.

AudioEye Trading Up 0.9 %

Shares of AudioEye stock opened at $15.53 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.84 and a quick ratio of 0.84. AudioEye has a 1 year low of $4.52 and a 1 year high of $34.85. The firm has a market cap of $189.12 million, a PE ratio of -57.52, a PEG ratio of 4.29 and a beta of 1.12. The company has a 50 day simple moving average of $21.82 and a two-hundred day simple moving average of $22.01.

Insider Buying and Selling

In other AudioEye news, CFO Kelly Georgevich sold 10,000 shares of AudioEye stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the completion of the transaction, the chief financial officer now directly owns 88,981 shares of the company’s stock, valued at approximately $2,580,449. The trade was a 10.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David Moradi sold 14,061 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $26.14, for a total transaction of $367,554.54. Following the sale, the chief executive officer now owns 2,764,290 shares in the company, valued at approximately $72,258,540.60. The trade was a 0.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,342,859 shares of company stock worth $32,684,480 in the last 90 days. Insiders own 40.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AEYE. MetLife Investment Management LLC purchased a new position in AudioEye in the 3rd quarter worth about $54,000. CWM LLC purchased a new position in shares of AudioEye during the third quarter valued at approximately $93,000. Rhumbline Advisers purchased a new position in shares of AudioEye during the second quarter valued at approximately $147,000. Barclays PLC lifted its position in AudioEye by 37.7% during the third quarter. Barclays PLC now owns 10,181 shares of the company’s stock valued at $233,000 after purchasing an additional 2,788 shares during the period. Finally, International Assets Investment Management LLC purchased a new stake in AudioEye in the third quarter worth approximately $2,350,000. 51.11% of the stock is owned by institutional investors.

AudioEye Company Profile

AudioEye, Inc provides patented, internet content publication, distribution software, and related services to Internet and other media to people regardless of their device, location, or disabilities in the United States. Its software and services enable conversion of digital content into accessible formats and allows for real time distribution to end users on any Internet connected device.